Lasalle Investment Management Securities LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,576 shares of the technology company’s stock after selling 77,494 shares during the quarter. Lasalle Investment Management Securities LLC owned about 0.28% of SBA Communications worth $51,574,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SBAC. Legacy Financial Advisors Inc. acquired a new stake in SBA Communications in the fourth quarter valued at approximately $25,000. Resources Investment Advisors Inc. acquired a new stake in SBA Communications in the fourth quarter valued at approximately $28,000. CWM LLC boosted its position in SBA Communications by 49.2% in the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after buying an additional 61 shares in the last quarter. We Are One Seven LLC acquired a new stake in SBA Communications in the fourth quarter valued at approximately $34,000. Finally, Private Capital Group LLC boosted its position in SBA Communications by 38.7% in the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock valued at $37,000 after buying an additional 63 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on SBAC shares. ValuEngine lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Morgan Stanley raised their target price on shares of SBA Communications from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. BidaskClub lowered shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 28th. Finally, Guggenheim lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Friday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $187.63.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Thursday, February 21st. The technology company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($1.33). The business had revenue of $483.85 million for the quarter, compared to analyst estimates of $472.87 million. SBA Communications had a negative return on equity of 1.71% and a net margin of 2.54%. SBA Communications’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. Research analysts forecast that SBA Communications Co. will post 7.82 EPS for the current year.
In related news, SVP Brian D. Lazarus sold 20,561 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $187.51, for a total value of $3,855,393.11. Following the transaction, the senior vice president now owns 36,525 shares in the company, valued at $6,848,802.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kurt L. Bagwell sold 22,400 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $181.53, for a total transaction of $4,066,272.00. Following the completion of the transaction, the executive vice president now owns 82,878 shares in the company, valued at approximately $15,044,843.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,749 shares of company stock worth $35,604,129. 2.70% of the stock is owned by company insiders.
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SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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